SINCE 1975, Singapore has aimed to keep the age of vehicles on the road down, to avoid jams caused by breakdowns.

So every new car has an initial 10-year lifespan. If it is scrapped before it turns 10, the owner gets back part of the taxes already paid.

At present, the refund can be used only to offset taxes when buying another car.

Anyone who does not want to buy another car can sell the rebate to motor traders, who usually take a cut of up to 10 per cent.